The rodenticides market is projected to reach USD 1.23 billion by 2022 at a CAGR of 3.76% from 2016.
The market is driven by factors such as awareness of preventing the losses caused due to rodent attack and minimizing the rodent infestation. With the increase in disposable income, the demand for a hygienic environment increases, thus driving the demand for advancements in rodenticides products. Regulatory requirements such as environmental protection laws and changing government policies across diverse regions are the restraining factors for rodenticides product manufacturers and service providers.
The rodenticides market, on the basis of type, has been segmented into non-anticoagulant, coagulant, and others (phosphides). The non-anticoagulant rodenticide segment is projected to grow at the highest CAGR during the forecast period. Increase in the demand for quality produce and reduction in losses of commodities due to rodent infestation led to the growth in demand for rodenticides.
The increase in food dependence on the agricultural sector and rise in concerns regarding modern rodenticides practices, in China and India, and demand for maintaining hygienic environmental conditions are expected to fuel the growth of the rodenticides market in the Asia-Pacific region. China and India are among the top five countries producing rice and wheat. As the production of these commodities is high, these countries need rodenticide products to avoid post-harvest losses.